Romanian distribution & logistics company AQUILA inked an agreement to acquire 100% of the shares of Hungarian peer KITAX Kft.
The transaction price is a maximum of EUR 14 million and is calculated based on a mechanism agreed by the parties, considering working capital adjustments and net debt. The acquisition is subject to the approval of the Hungarian authorities for transaction clearance, including the Foreign Direct Investment (FDI) and the General Shareholders’ Meeting of AQUILA, the Romanian company said.
“By acquiring KITAX Kft, we will become an active player in the Hungarian market, adding a complementary portfolio of products to our current business. This move brings us closer to our regional development ambitions following the success achieved in Moldova with the acquisition of Trigor AVD” , Cătălin Vasile, CEO AQUILA stated. This new transaction aligns with our commitment to double EBITDA value by 2026.” he added.
Cătălin Vasile, CEO AQUILA (Image credit: LinkedIn)
KITAX Kft reported revenues of EUR 10 million and an EBITDA of EUR 2.1 million in 2023. Founded in 2002 by Ida and Ștefan Ozsvald, Kitax KfT distributes professional hygiene and cleaning products, consumables for the HoReCa sector, and health and safety equipment. The company has a diversified portfolio includes over 10,000 products from over 400 top global suppliers, such as Kimberly Clark, Essity (Tork), Vileda Professional, and Karcher. KITAX Kft serves clients in key sectors such as industry, HoReCa, retail, education, healthcare, and facility management. The company’s logistics infrastructure is modern, including its fleet and a 3,000 m² warehouse in Mosonmagyaróvár, where 70% of the energy used is green.
Aquila, the market leader in integrated distribution and logistics services for consumer goods in Romania and the Republic of Moldova, ended the first nine months of 2024 with revenues of nearly RON 2.1 billion, marking a 20% increase compared to the same period last year. The company’s EBITDA grew by 7% reaching RON 124 million. The net profit for the first 9 months of 2024 amounted to RON 57 million, a decrease of 19% compared to the same period in 2023. In line with its sustainability objectives, AQUILA allocated EUR 16.9 million in 2024 for investments in transportation vehicles and warehouse equipment. The company was listed on the Bucharest Stock Exchange in 2021.
Aquila at a Glance
Founded: 1994 Headquarters: Ploiesti, Romania Distribution outlets: over 72,000 Market capitalisation: RON 1.10 bn/ EUR 222 m (considering the closing price for December 29th, 2023)
